First Solar Approves $1.1B Investment In Alabama Plant For Planned 3.5 GW Capacity Expansion

First Solar, Inc. FSLR has selected Lawrence County, North Alabama, as the location for its fourth American photovoltaic (PV) solar module manufacturing facility.
The company expects the new factory to create over 700 new direct jobs in the state.
The planned factory in Lawrence County's Mallard Fox Industrial Park represents an investment of approximately $1.1 billion and is expected to be commissioned by 2025, with a planned annual capacity of 3.5 GWDC.
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The new fully vertically integrated facility will join three Ohio factories, including one scheduled to come online in 1H23, to form part of First Solar's expanded domestic manufacturing footprint.
"The passage of the Inflation Reduction Act of 2022 has firmly placed America on the path to a sustainable energy future," said CEO Mark Widmar.
"This facility, along with its sister factories in Ohio, will form part of the industrial foundation that helps ensure this transition is powered by American innovation and ingenuity."
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Price Action: FSLR closed at $158.54 on Wednesday.